Stoke Therapeutics (NASDAQ:STOK) Trading Up 5.8% – Here’s Why

Stoke Therapeutics, Inc. (NASDAQ:STOK) traded up 5.8% during mid-day trading on Thursday . The stock traded as high as $14.70 and last traded at $14.70. 36,400 shares traded hands during trading, a decline of 95% from the average session volume of 751,431 shares. The stock had previously closed at $13.90.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Stoke Therapeutics in a research report on Wednesday, November 6th. Leerink Partners assumed coverage on Stoke Therapeutics in a research report on Monday, October 14th. They issued an “outperform” rating and a $18.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of Stoke Therapeutics in a research report on Wednesday, November 6th. Finally, Leerink Partnrs raised Stoke Therapeutics to a “strong-buy” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $20.83.

Stoke Therapeutics Stock Performance

The firm’s 50 day simple moving average is $13.06 and its 200-day simple moving average is $13.78. The company has a market capitalization of $637.23 million, a price-to-earnings ratio of -5.73 and a beta of 0.95.

Stoke Therapeutics (NASDAQ:STOK) last announced its earnings results on Tuesday, November 5th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.05. Stoke Therapeutics had a negative net margin of 629.90% and a negative return on equity of 54.45%. The company had revenue of $4.89 million for the quarter, compared to the consensus estimate of $3.46 million. As a group, equities analysts anticipate that Stoke Therapeutics, Inc. will post -2.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Stoke Therapeutics

In other news, major shareholder Skorpios Trust sold 1,937,500 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $14.05, for a total value of $27,221,875.00. Following the transaction, the insider now directly owns 8,906,181 shares of the company’s stock, valued at approximately $125,131,843.05. This represents a 17.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Stoke Therapeutics

A number of hedge funds have recently modified their holdings of STOK. BNP Paribas Financial Markets increased its stake in shares of Stoke Therapeutics by 86.2% in the first quarter. BNP Paribas Financial Markets now owns 14,330 shares of the company’s stock worth $193,000 after acquiring an additional 6,636 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in Stoke Therapeutics in the first quarter worth $141,000. Vanguard Group Inc. boosted its holdings in Stoke Therapeutics by 4.1% in the first quarter. Vanguard Group Inc. now owns 1,715,554 shares of the company’s stock worth $23,160,000 after purchasing an additional 67,052 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Stoke Therapeutics by 10.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 263,700 shares of the company’s stock worth $3,560,000 after purchasing an additional 24,400 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Stoke Therapeutics by 5.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,431 shares of the company’s stock worth $425,000 after purchasing an additional 1,642 shares in the last quarter.

Stoke Therapeutics Company Profile

Stoke Therapeutics, Inc, an early-stage biopharmaceutical company, develops medicines to treat the underlying causes of severe genetic diseases in the United States. The company utilizes its proprietary targeted augmentation of nuclear gene output to develop antisense oligonucleotides to selectively restore protein levels.